As per a recent analysis report published by ‘Diar’, average Bitcoin [BTC] transaction fees has hiked to nearly around 200% in April compared to March.

In line with a recent official ‘analysis report‘ published by ‘Diar’, average Bitcoin [BTC] transaction fees has hiked to nearly around 200% in April compared to March.

The report additionally notes that Bitcoin miners attained $13.7 Mln from transaction fees solely – around 71% up from $3.9 Mln – the amount they made up from the fees within the previous month. The overall mining earnings earlier in the month of April were about $291 Mln, nearly up by 30% compared to March.

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The On-Chain transaction volume has reportedly hiked 43% during April and resulted in full blocks, whereas SegWit approached around 40% of the entire transactions per block and blocks frequently exceeded the one -megabyte block limit. For comparison, the avg. SegWit usage was around 26%, earlier in 2018.

The number of On-Chain Bitcoin [BTC] transactions reported earlier in the month of April approached the all-time-high of 11.2 Mln transactions reported in Dec. 2017, 1-2 block confirmation times are around 84% lower than seen at the peak, Diar added. Moreover, the quantity of Bitcoin transferred On-Chain is still 1/3rd of the amount compared to the all-time-high.

The fees is expected to still increase considerably if the activity were to hit the identical level, with the report adding:

“Diar estimates that at the present SegWit usage levels, fees might go up as high as 300% should On-Chain movement of Bitcoins resemble that was seen in at the end of 2017.”

Moreover, the report added that the fees would be over 55% cheaper than in Dec. 2018, since SegWit is functioning as supposed. Bitcoin ‘enforced‘ SegWit in 2016 by the means of a soft-fork.

The Diar report additionally ‘noted‘ that Ethereum [ETH] transaction volumes on DApps [Decentralized Applications] has registered an all time new highs.

As ‘reported‘ yesterday, bitcoin developer named ‘Pieter Wuille’ has revealed two proposals on GitHub for a Taproot Soft-Fork, with the aim to reveal less information, once a Bitcoin [BTC] transaction takes place.